Gold at $2,000 Is Now Even More Likely, Goldman Says.

Gold last traded at $1,806 an ounce. Silver at $19.50 an ounce.

NEWS SUMMARY: Precious metal prices rose Monday on safe-haven buying and a weaker dollar. U.S. stocks rose as investors looked past record numbers in coronavirus cases from the weekend amid vaccine hopes and lower fatality rates.

BARRONS--"An 'uneven recovery' lies ahead for commodities, but Goldman Sachs analysts are more confident than ever that gold will hit $2,000 an ounce. A scenario in which the U.S. is hit by a second wave of coronavirus cases, while China - the world's largest retail buyer - recovers strongly is 'ideal for gold,' the investment bank's commodities research team said in a note. The team said it now has 'even greater conviction' in its bullish 12-month target for the precious metal. Gold futures settled at a 9-year high of $1,820.60 per ounce on Wednesday....'Go long copper, silver and steel and stay long gold,' was their advice for investors...Silver stands to benefit from ongoing demand among investors for safe haven assets, as well as the Chinese industrial recovery, they said."